Are you considering opening a small business in the Philippines?
SM Mall, one of the largest retail chains in the country, offers a variety of rental options for entrepreneurs looking to set up shop.
In this article, we will explore the cost of renting a kiosk in an SM Mall and provide you with some essential information to help you make an informed decision.
Location
When it comes to renting a kiosk in an SM Mall, the rental cost can vary depending on the location of the mall.
SM Malls are strategically located in key cities and provinces across the Philippines, making them highly desirable for businesses.
Prime locations within the mall, such as near entrances or in high-traffic areas, tend to have higher rental rates due to the increased visibility and foot traffic.
On the other hand, kiosks located in less busy areas may have lower rental costs but may receive less customer traffic.
Rental Rates
While the exact rental rates for kiosks in SM Malls can fluctuate, the average rental cost ranges from PHP 20,000 to PHP 80,000 per month.
This price includes the rental space, utilities, and common area maintenance fees.
It’s important to note that rental rates can vary based on factors such as the size of the kiosk, the location within the mall, and the specific SM Mall branch.
Some branches may have higher rental rates due to their popularity or higher foot traffic.
Additional Costs
In addition to the monthly rental fee, there may be other costs associated with renting a kiosk in an SM Mall.
These can include a one-time security deposit, which is typically refundable at the end of the lease term, as well as a percentage of sales or turnover rent.
The security deposit is a form of insurance for the mall management and is usually equivalent to a few months’ worth of rent.
The percentage of sales or turnover rent is a percentage of the kiosk’s monthly sales that is paid to the mall management on top of the base rent.
Lease Terms
The typical lease term for a kiosk in an SM Mall is one to three years.
The exact duration can vary depending on the mall and the negotiation between the tenant and the mall management.
It’s important to carefully review the lease agreement and understand the terms and conditions before signing.
During the lease term, tenants are responsible for maintaining the cleanliness and appearance of their kiosk.
They are also required to comply with the mall’s rules and regulations, which may include restrictions on signage, operating hours, and product offerings.
Conclusion
Renting a kiosk in an SM Mall can be a great opportunity for entrepreneurs looking to start or expand their business in the Philippines.
While the rental rates can vary based on factors such as location and size, the average cost ranges from PHP 20,000 to PHP 80,000 per month.
Before making a decision, it’s essential to consider factors such as the location within the mall, additional costs, and lease terms.
Conducting thorough research and consulting with SM Mall representatives can help you make an informed decision that aligns with your business goals.
Remember, a kiosk in an SM Mall can provide you with a prime location, high foot traffic, and access to a large customer base.
With the right product or service and effective marketing strategies, your business can thrive in this vibrant retail environment.
